Trueclaim Exploration (OTCQX: TRMNF; TSX-V: TRM) has completed a financing in the amount of $854,000 at a price of $0.16 per share along with an 18-month warrant at exercisable at $0.25 per share. Proceeds from the financing will be used for exploration of the Company’s Black Diamond silver project in Arizona, USA which the Company has under option and for general working capital purposes.
Trueclaim Exploration (OTCQX: TRMNF; TSX-V: TRM) has intersected 2.54 g/t gold over 9.44 metres, including 17.27 g/t gold over 0.50 metres in drill hole TRM-11-28A at the Company’s Scadding Gold Property. These results are consistent with those from the North Zone and at the East-West Pit. And, these four holes were drilled to provide clarification on the orientation of geological contacts and chloritic gold-bearing units specific to the South Zone, which they have done.
Trueclaim Exploration (OTCQX: TRMNF; TSX-V: TRM) is increasing the amount of its private placement up to $880,000 through the issuance of 5,500,000 units at a purchase price of $0.16 per unit. Each unit will consist of one common share in the capital of the Company and one common share purchase warrant (each a “Warrant”). Each Warrant has a term of 18 months from the date of closing of the Private Placement (the “Closing Date”) and entitles the holder thereof to purchase one common share of the Company at an exercise price of $0.25 per share at any time on or before 18 months after the Closing Date.
Trueclaim Exploration (OTCQX: TRMNF; TSX-V: TRM) has completed approximately 700 metres of diamond drilling in the New Zone on the Scadding Gold Property, highlights of which include 94.5 g/t gold over 1.5 metres, including 177.04 g/t gold over 0.5 metres.
These are solid numbers not even one-quarter of the way through the Company’s planned 3,000 metre drill program, so get ready for additional news in the not too distant future.
Trueclaim Exploration (OTCQX: TRMNF; TSX-V: TRM) has completed its earn-in of a 51% working interest in the Scadding Gold Property northeast of Sudbury, Ontario. The Company can increase its interest in the property from 51% to 100% by paying Currie Rose $2,000,000 in cash on or before commencement of commercial production. The property is subject to 3% net smelter return royalty.
The Company is continuing its 8,000 metre diamond drilling program on the Property and expects to announce another tranche of assay results early next week.
Trueclaim Exploration (OTCQX: TRMNF; TSX-V: TRM) is a mineral exploration company engaged in the acquisition and development of precious and base metals properties in strategically located areas, currently within Ontario and Arizona.
The Company’s current principal project is the former Scadding Gold Mine near Sudbury, Ontario. The Scadding claims are part of approximately 52,000 acres the Company has assembled in this area.
The Company and its Scadding project are featured on the show Today in America with Terry Bradshaw, which can be viewed by clicking picture below.